So I’m sure this sounds familiar…”Do more with less”. Many organizations have downsized various departments including their security and investigations functions when they should be increasing their staffing size.
This downsizing creates concerns with respect to employee theft and fraud. Why? During downsizing or a difficult economy with the pressures to do more with less, not only at work but at home employees may turn to the company’s coffers to top up their personal needs.
They may steal funds to put food on the table, pay for a child’s school trip or commit fraud to care for their elderly parents. They are stealing to survive. Truly if not for the pressures of the economy they most likely would not commit theft or fraud.
All companies should increase their due diligence when investigating or detecting incidents such as theft and fraud. There are no definitive ways to completely stop or prevent fraudulent activity, but there are many steps companies can take to mitigate and minimize the risk.
Incidents of theft and fraud can make the difference from a company reporting numbers in the black or the red. Red is a great colour for Valentine’s Day roses and Santa’s suit. Not for company financials.